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Plowshares into swords: Trump’s $1.5 trillion defense surge is the largest since World War II — and no one can explain how to pay for it

“MAGA was told an untruth by Trump — no foreign wars, no adventurism,” Steve Hanke told Fortune. “This is a massive militarization.”

By Nick LichtenbergApril 3, 2026
A woman working alone in an office
MIT created duplicate AI workers to tackle thousands of different tasks. The verdict? Most of the time AI is still just ‘minimally sufficient’
By Tristan BoveApril 3, 2026
JPMorgan Chase CEO Jamie Dimon
Jamie Dimon says the U.S. was right to go to war with Iran: ‘Why the western world put up with all these proxy wars for 45 years is kind of beyond me’
By Tristan BoveApril 3, 2026
Albert Bourla
Only one U.S. university ranks in the world’s top 10 in STEM. Pfizer’s CEO is calling for change
By Preston ForeApril 3, 2026
Bernie sanders angry pointing
Bernie Sanders calls out Bezos, Musk, Bloomberg, and Buffett in billionaire tax push: ‘The richest people in America have never ever had it so good’
By Catherina GioinoApril 3, 2026
Depressed worker feel tried after overwork and disappointed for his job or being fired.
The jobs report looks good ‘for the wrong reasons,’ top economist warns: It’s hiding how many Americans are giving up
By Eva RoytburgApril 3, 2026
Latest Stories
The Benefits of Red Light Therapy: Expert-Approved Advice
HealthThe Benefits of Red Light Therapy: Expert-Approved Advice
By Katherine Van DisApril 3, 2026
Fortune 500 Power Moves: Which executives are gaining and losing power
C-SuiteFortune 500 Power Moves: Which executives are gaining and losing power
By Fortune EditorsApril 3, 2026
Dario Amodei sits in a white chair with his hands pressed together in front of a pink and orange background.
AIThe AI kill switch just got harder to find: LLM-powered chatbots will defy orders and deceive users if asked to delete another model, study finds
By Sasha RogelbergApril 3, 2026
Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
EnergyEnergy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
By Jason MaApril 3, 2026
Microsoft is spending billions on AI—but even NASA astronauts can’t escape Outlook headaches
LawMicrosoft is spending billions on AI—but even NASA astronauts can’t escape Outlook headaches
By Marco Quiroz-GutierrezApril 3, 2026
Starbucks baristas working in store
SuccessStarbucks is offering $1,200 bonuses, expanded tipping, and weekly payouts to boost the pay of its U.S. baristas
By Emma BurleighApril 3, 2026
Red Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return
RetailRed Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return
By Sydney LakeApril 3, 2026
donald trump
PoliticsA $10 billion ‘slush fund’ to pay TSA agents: Trump’s latest unilateral loophole, explained
By Jake AngeloApril 3, 2026
More EconomyPage 94 of 100
A Wall Street trader looks worried
FinanceWall Street is holding its breath as investors wait to see if Trump will enforce new tariffs or pull back at the last minute
By Stan Choe and The Associated PressMarch 3, 2025
  • A hockey fan booing from the crowd
    PoliticsCanadians are booing the American national anthem at sports games even after Trump paused his tariffs rollout
    By The Associated PressFebruary 5, 2025
Even in deep-red Trump country, business conditions are quickly collapsing as tariff fears cross party lines 
FinanceEven in deep-red Trump country, business conditions are quickly collapsing as tariff fears cross party lines 
By Jason MaMarch 2, 2025
The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts
PoliticsThe Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts
By Josh Boak and The Associated PressMarch 2, 2025
Russia’s old economy is gone, and its wartime transformation has the military primed for a resurgence, former State Dept. official warns
PoliticsRussia’s old economy is gone, and its wartime transformation has the military primed for a resurgence, former State Dept. official warns
By Jason MaMarch 2, 2025
Artistic rendering of Benjamin Franklin on a $100 bill behind a graph showing downward movement
FinanceThe U.S. economy has suddenly been thrown into reverse as key GDP indicator flashes stunning negative forecast
By Jason MaMarch 1, 2025
With millions of hens killed by bird flu, critics charge big egg producers with price-gouging
RetailWith millions of hens killed by bird flu, critics charge big egg producers with price-gouging
By The Associated PressFebruary 28, 2025
  • Goldman Sachs says Trump’s tariffs could bruise stocks, estimating every 5-percentage-point increase would slash S&P 500 earnings per share by 1%–2%
    FinanceGoldman Sachs says Trump’s tariffs could bruise stocks, estimating every 5-percentage-point increase would slash S&P 500 earnings per share by 1%–2%
    By Alena BotrosFebruary 4, 2025
Consumers are cutting back spending at the fastest clip in 4 years
FinanceConsumers are cutting back spending at the fastest clip in 4 years
By Christopher Rugaber and The Associated PressFebruary 28, 2025
America’s consumer economy is hostage to its top earners—and that could mean trouble down the road
FinanceAmerica’s consumer economy is hostage to its top earners—and that could mean trouble down the road
By Sydney LakeFebruary 27, 2025
The U.S. economy is propped up by three pillars, top investor Peter Boockvar says—and America’s growth now hinges on the wealthiest 10%
FinanceThe U.S. economy is propped up by three pillars, top investor Peter Boockvar says—and America’s growth now hinges on the wealthiest 10%
By Irina IvanovaFebruary 27, 2025
Joachim Nagel, president of the Deutsche Bundesbank, during a Bloomberg Television interview following the presentation of the Bundesbank's 2024 Annual Report in Frankfurt, Germany, on Tuesday, Feb. 25, 2025. German parties should quickly form a new government after Sunday's election, to help prevent the economy failing to expand for a third straight year, according to Nagel.
FinanceIt’s 5 minutes to midnight for Germany’s economy, Bundesbank chief warns after central bank’s first loss in 45 years
By Ryan HoggFebruary 26, 2025
Shot of a young businesswoman at work blowing her nose
SuccessGerman bosses are blaming the country’s economic woes on ‘work-shy’ Gen Z calling in sick nearly 20 times a year
By Ryan HoggFebruary 25, 2025
  • Photo of Donald Trump
    FinanceTrump crying wolf over tariffs has already convinced Wall Street that threats will be short-lived
    By Eleanor PringleFebruary 4, 2025
S&P 500 notches a comeback after Friday blowout marks its worst trading session of the year 
FinanceS&P 500 notches a comeback after Friday blowout marks its worst trading session of the year 
By Marco Quiroz-GutierrezFebruary 24, 2025
U.S. President Donald Trump and his Russian counterpart Vladimir Putin at the G20 summit in Osaka in 2019.
CommentaryWhy 1,000 global companies left Russia and won’t return—no matter what Trump and Putin say
By Jeffrey Sonnenfeld and Steven TianFebruary 20, 2025
A protestor holds a banner during a demonstration against the policies of US President Donald Trump and Elon Musk's Department of Government Efficiency (DOGE) near Musk's SpaceX headquarters in Washington, DC, on February 19
PoliticsTrump backs Musk proposal to return billions of dollars in DOGE savings to taxpayers because ‘the numbers are incredible’
By Christiaan HetznerFebruary 20, 2025
US Federal Reserve Chairman Jerome Powell
FinanceTrump shot himself in the foot with tariff plan if he wants an interest rate cut, Fed minutes show
By Eleanor PringleFebruary 20, 2025
‘Inflation is back,’ Trump says. ‘I had nothing to do with it’
Finance‘Inflation is back,’ Trump says. ‘I had nothing to do with it’
By Alena BotrosFebruary 19, 2025
A man walks past a giant Euro logo at the visitor centre of the European Central Bank (ECB) headquarters, ahead of an ECB press conference on the Eurozone's monetary policy, in Frankfurt am Main, western Germany, on July 18, 2024.
FinanceECB extends hybrid policy that allows staff to work anywhere in the EU for 90 days a year after rave reviews
By Ryan HoggFebruary 19, 2025
United States President Donald J. Trump speaks at the Friends of Ireland luncheon hosted by United States Speaker of the House of Representatives Paul Ryan, Republican of Wisconsin, at the United States Capitol March 15, 2018 in Washington, DC.
FinanceWeight-loss drug Zepbound helped drive Ireland to $76 billion in goods exports to the U.S. last year—a bittersweet reminder of the challenges ahead
By Ryan HoggFebruary 19, 2025
Photo of Mario Draghi
FinanceEurope is already sabotaging its own economy far more than U.S. tariffs could, former ECB president says
By Jason MaFebruary 16, 2025
Federal Reserve Chair Jerome Powell
FinanceRate cut hopes are fading fast as inflation data and record egg prices make ‘very uncomfortable’ reading for Jerome Powell
By Eleanor PringleFebruary 13, 2025
Tesla, SpaceX and X CEO Elon Musk
PoliticsElon Musk wants to tear out entire federal agencies: ‘It’s like a weed. If you don’t remove the roots, the weed will grow back’
By Eleanor PringleFebruary 13, 2025
A person standing in a kitchen looking at a receipt.
Personal FinanceEveryday prices increased again in January, and so did inflation
By Cassie BottorffFebruary 12, 2025
How the richest woman in the world—mocked as a ‘miser’ in the press—helped bail out New York City during the panic of 1907
FinanceHow the richest woman in the world—mocked as a ‘miser’ in the press—helped bail out New York City during the panic of 1907
By Will DanielFebruary 11, 2025
US President Donald Trump
FinanceTrump claims Elon Musk’s DOGE ‘geniuses’ have found ‘very fraudulent stuff’
By Eleanor PringleFebruary 10, 2025
People shaking hands in front of a house.
Personal Finance2024 new home sales hit their highest pace in three years. Does that mean lower home prices are around the corner?
By Glen Luke FlanaganFebruary 10, 2025
US President Donald Trump during an executive order signing ceremony in the Oval Office of the White House in Washington, DC, US, on Thursday, Jan. 30, 2025.
FinanceTrump vows to tap America’s ‘liquid gold’ oil reserves and ‘drill baby, drill’—the only problem is, it’s not up to him
By Eleanor PringleFebruary 9, 2025
Bank of England gives hawkish warning as it cuts rates to 4.5%
FinanceBank of England gives hawkish warning as it cuts rates to 4.5%
By AFPFebruary 6, 2025
Ex-Monzo CEO Tom Blomfield talks at TechCrunch Disrupt Berlin 2017 at Arena Berlin on December 4, 2017
TechMonzo founder says the American dream is ‘antithetical’ to British culture, where a ‘know your place’ attitude kills innovation
By Ryan HoggFebruary 6, 2025
Semafor CEO Justin Smith speaks into a microphone
FinanceSemafor says over 200 CEOs have already committed to attend its economic conference—’the closest thing to what Davos has accomplished in Switzerland’
By David Bauder and The Associated PressFebruary 5, 2025
A middle-aged man picks up his medications at a pharmacy.
HealthPatients will pay more for prescription meds and face drug shortages amid Trump tariffs, pharma groups warn
By Lindsey LeakeFebruary 5, 2025
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Real Estate
Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech townsplaceholder alt text
By Fortune EditorsApril 2, 2026
Success
Major 4-day workweek study suggests that when we work 5 days we spend one doing basically nothingplaceholder alt text
By Fortune EditorsApril 2, 2026
Economy
Paul Krugman smacks down Trump speech with argument that $4 gas is ‘less than half’ of the Hormuz hit. Here’s what he’s talking aboutplaceholder alt text
By Fortune EditorsApril 2, 2026
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